TrainSignal revealed the company had been bought for approximately US$23.6 million by Pluralsight, a Utah-based enterprise that focus on educational software development. Schaumburg, Illinois-based TrainSignal is a developer of online training resources for professionals in the information technology industry.
The deal represents TrainSignal's first external investment since its inception. The tech startup previously sold technical training guides when it began operations in 2002. The firm eventually switched to physical videos. This year, TrainSignal introduced an online video subscription program for US$49 a month. Subscribers would have unlimited access to their training videos.
Pluralsight examined whether it could develop those training materials TrainSignal made themselves. PluralSight, however, ultimately decided to buy TrainSignal. TrainSignal already had the expertise in training information technology professionals. "This was a much, much better approach and would deliver incredible value to our customers immediately," Pluralsight's co-founder and chief executive Aaron Skonnard said.
Pluralsight currently employs approximately 50 people. The acquisition would add 40 more staff into Pluralsight's organization.
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